Post
Topic
Board Bitcoin Discussion
Re: Germany gives tax exemption for bitcoin exchange operators
by
audaciousbeing
on 26/04/2018, 21:09:28 UTC
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

This narrative and the title the thread are negating each other. The report is about how Germany is considering taking this course of action as against taking a position. In the process of decision making, a lot of promises are always made but when its time to take a stance on it, that's when several variables start to play an important roles. That is to say until it becomes an action backed by legislation, its nothing short of speculation.

Even though, the news talks about Ministry of Finance releasing The Guidance, its still not sufficient to take a position because guidance can be reviewed without stress and every hopes given to crypto enthusiasts goes bleak compared to a law which the process to amend alone takes more time to make a new one.